How Buyers Search for Homes!

By
Real Estate Agent with Signature Properties Group, Inc.

 

 

How Buyers Search For Homes

 

Information Sources

 

Home buyers have a variety of information sources available to them in their home search. Eighty-five % reported that they used a real estate agent as a source of information, with little difference in usage between first-time and repeat buyers.  The Internet was used by 80 % of home buyers to find information about specific properties or to find information about a community. First-time buyers tend to use the Internet somewhat more frequently than repeat buyers. Yard signs were used by nearly two-thirds of buyers at some point in their search. Just over half of buyers used print newspaper ads.

INFORMATION SOURCES USED IN HOME SEARCH BY FIRST-TIME AND REPEAT BUYERS

 

Real Estate Agent                                 85%

Internet                                              80%

Yard Signature Properties                      63%

Print Newspaper Advertisement               55%

Open House                                        47%

Home Book or Magazine                       34%

Home Builder                                      26%

Television                                           11%

Billboard                                               9%

Relocation Company                              5%

 

 

Frequency of Internet Usage

 

Some home buyers use the Internet as a resource more frequently than others. Overall, 59% of home buyers noted that they used the Internet frequently while an additional 21% reported that they used it occasionally.

Buyers in the Northeast and Midwest used the Internet more intensively than buyers in other regions. In contrast, buyers in the South and West used the Internet less intensively, although the share who used the Internet at all was consistent with other regions.

USE OF INTERNET TO SEARCH FOR HOMES

 

Frequently                                          59%

Occasionally                                        21%

Not at all                                            20%

 

 

Actions Taken

 

ACTIONS TAKEN AS A RESULT OF INTERNET HOME SEARCH

                  

Drove by or viewed a home                  74%

Walked through a home viewed            61%

    online

Found the agent used to search           23%

for or buy a home

Requested more information               22%

Contacted builder or developer            11%

Pre-qualified for a mortgage online       7%

Applied for a mortgage online               5%

Found a mortgage lender online            4%

 

After gathering information online, three-quarters of home buyers reported that they drove by specific properties, while 61% walked through a property viewed online. Just over one if five found a real estate agent or requested more information about a property.  First-time buyers more often requested additional information about a home viewed online.

 

 

 *Source of percentage figures: National Association of Realtors Profile of Home Buyers and Sellers

 

 

Comments (4)

Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes
good stuff....I have seen these stats before...always a good reminder.
Dec 26, 2007 06:40 AM
Jeff Thompson
Thompsons Home Inspections - Palmdale, CA
Great information, will keep looking for ways to market and advertise.
Dec 26, 2007 06:54 AM
Alix Pinzon
Open Mortgage, LLC NMLS # 2975 - Downey, CA
(562)743-6086

Yes, sadly everything is available on the internet, and Agents are just used like pawns.  But, we can save someone a lot of headaches.  If you have a minute, please check out my website and tell me what you think.  www.yourspeedyappraiser.com  Thanks!

Dec 26, 2007 07:08 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

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Jan 04, 2018 07:03 PM